Seasoned trader Tone Vays believes that Bitcoin (BTC) could be gearing up for a massive eruption to the six-figure level and go as high as $300,000.
In a new strategy session, Vays tells his 123,000 YouTube subscribers that Bitcoin could explode between 792% and 1,238% from current prices in the next bull market.
So this is my projection. There’s two paths. We can hit this line [diagonal resistance] twice like we did in the last cycle . [Or], we can hit this line once near the end like we did in the prior cycle . If we hit it near the end, we’re going to go higher [$300,000]. If we hit it twice, we’re going to go lower [$200,000].”
Personally, I’d rather [we] hit it twice. I’m tired of Bitcoin being this cheap.”
Looking at the trader’s chart, it appears that he thinks Bitcoin could rally toward his initial target of $200,000 some time in 2025. Should BTC go higher and rally to $300,000, Vays believes that can happen in late 2025 or early 2026.
In the short term, however, Vays thinks that the Bitcoin pullback is not yet over.
“The [previous] week closed poorly, which at the moment sets us up for a pullback all the way down to the long-term moving average and $20,000.”
At time of writing, Bitcoin is trading for $22,490